FirstRand, an African financial services provider, is reportedly planning to expand in India after receiving due regulatory approvals.
Reserve Bank of India has allowed the lender to expand in a 100-kilometer (62-mile) radius from its previously permitted one consumer banking outlet in Mumbai.
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FirstRand CEO Sizwe Nxasana told Bloomberg, "We have been given a much wider jurisdiction by the Reserve Bank of India."
The bank is also considering converting from a branch to a subsidiary license.
FirstRand has also applied for a license in Ghana which is expected to be up and running by midyear 2015.
Nxasana, who will retire in October 2015, said: "We’re still looking at opportunities in Kenya, but there’s no license application yet."
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